Save Taxes Long-term
with a Roth IRA

One of the most popular tax-favored vehicles ever offered by the U.S. government is the Roth IRA. It is an individual retirement account designed to help you save for retirement.

Depending on your income level, if you’re under 50 and single, you can contribute up to $4,000. Married filing jointly can contribute a total of $8,000. If you’re over 50, you can contribute up to $5,000 or $10,000 for married couples who file jointly.

Unlike a traditional IRA—which allows you to deduct your contribution from your current year’s taxable income—you must fund a Roth with after-tax income. But once you’ve made your contributions to a Roth account, the money in the account grows tax-free. In fact, when you withdraw the money after you retire, you still pay no taxes on your gains. Withdrawing prior to age 59½ may be subject to a 10% federal tax penalty.

Your financial advisor can help you set up a Roth account so that you can begin taking advantage of this excellent tax-advantaged account.

You may be surprised to find that you are guilty of a habit that dooms you to never having money. Some people who constantly feel money pressure buy themselves little treats or rewards, in part because they never have the money to buy themselves what they really want. But it’s precisely that accumulation of “little” expenses that prevents them from getting ahead. Many don’t even realize they do this. The only way to find out is to keep track of what you spend. Do it for a week or a month. Try to remember every expenditure, no matter how small. Record everything in a little notebook each day. Add them up in different categories at the end of your test period: food and drink, entertainment, utilities, gifts, and so forth. Pay particular attention to the small expenditures on unnecessary items. See how they accumulate over time.

America’s Retirement Crisis
Presented by Jerry Bernard

October 17, 2006 @ 6:30 PM
Presented by Perry Diede
Somerby Golf Club
975 Somerby Parkway
Byron, MN

October 17, 2006 @ 6:30 PM
Presented by Leo Vaske
Boy Scout Building
810 Madison Avenue
Mankato, MN

October 18, 2006 @ 6:30 PM
Wayzata Seminar Room
1905 East Wayzata Boulevard
Wayzata, MN

October 19, 2006 @ 6:30 PM
Holiday Inn
14201 Nicollet Avenue South
Burnsville, MN

October 24, 2006 @ 6:30 PM
Kozlak’s
4785 Hodgson Road
Shoreview, MN

October 25, 2006 @ 6:30 PM
Sheraton
7800 Normandale Boulevard
Bloomington, MN

October 26, 2006 @ 2:00 PM
Prairie Bay
15115 Edgewood Drive
Baxter, MN

October 26, 2006 @ 6:30 PM
St. Cloud Country Club
301 Montrose Road
St. Cloud, MN

To register for any of these seminars, please call
1-800-487-1952 or visit wealthenhancement.com

When Will You Retire?

For many workers, retirement is a dream that can’t come soon enough. But rushing into retirement could be a mistake. While early retirement may sound appealing, there are many benefits to working and investing longer.

In most cases, the longer you work the more Social Security you are likely to receive. If your company offers a pension, you would probably get a larger pension by staying longer. If your company offers a 401k plan, the more years you contribute, the bigger your retirement war chest.

With inflation continuing to push up the price of everything from groceries and gasoline to hardware and healthcare, you may need more money than you think to live a comfortable life during a retirement that could span 20 to 40 years. That’s why you might find it helpful to work with your advisor to set up a retirement timeline that fits your budget and expectations.

Wealth Enhancement Group has helped thousands of Minnesotans plan for a comfortable retirement. With a team of experts well-versed in financial planning, investment management, and maximizing tax strategies, Wealth Enhancement Group will help you achieve the life you imagined.  

CLICK HERE to get your free copy of our 24-page retirement booklet, “Planning for Retirement – Strategies for Your Life, Your Finances, and Your Future”. In this booklet, you’ll learn more about strategies and options for your future.